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LACERA picks PineBridge for $1 billion in high yield, slates $555 million for alts

LACERA picks PineBridge for $1 billion in high yield, slates $555 million for alts Los Angeles County Employees Retirement Association, Pasadena, Calif., hired PineBridge Investments to manage $1 billion in a high-yield separate account for the $66.4 billion pension fund, according to a closed session report from its April 14 meeting. PineBridge was the only manager selected to manage the mandate following an RFP launched in July 2020, CIO Jonathan Grabel said in an email in response to questions. LACERA s target allocation to high yield is 3%, with a range of zero to 6%. LACERA had $2.2 billion in high yield as of Feb. 28. LACERA also committed a total of up to $555 million to five alternative investment funds and three co-investments alongside approved alternative investment managers, the report said.

Ohio Police & Fire discloses $45 million in private market commitments

Ohio Police & Fire discloses $45 million in private market commitments Fund also puts Bridgewater Associates on watch for performance issues Ohio Police & Fire Pension Fund, Columbus, made two new private markets commitments totaling up to $45 million. The $17.7 billion pension fund committed up to $25 million to TA XIV, a middle-market growth equity fund managed by TA Associates, and up to $20 million to Veritas Capital Vantage Fund, a North American buyout fund managed by Veritas Capital Fund Management, spokesman David Graham said in an email. The pension fund previously committed up to $20 million each to TA XIII and Veritas Capital Fund VII, both in 2019.

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